Business Reorganization

Mexico's Maxcom Negotiates Pre-packaged Bankruptcy

June 19, 2013

Mexican telecommunications company Maxcom said yesterday that it was seeking to negotiate new capital and a restructuring through pre-packaged bankruptcy process in U.S. courts, Reuters reported yesterday. The company, which provides phone, Internet and television services, said that it was working on the bankruptcy plan with some of its creditors, shareholders and private equity firm Ventura Capital Privado. Separately, Maxcom said that it had failed to pay about $11 million in interest due on Monday on notes expiring in 2014.

Lenders Increase Cash in Bid for ATP's Deep-Water Assets

June 19, 2013

Lenders looking to buy ATP Oil & Gas Corp.'s deep-water drilling assets have increased the cash portion of their $690 million bid, a move that could appease the bankruptcy judge overseeing ATP's chapter 11 case, Dow Jones Daily Bankruptcy Review reported today. In a court filing on Monday, lenders led by an affiliate of Credit Suisse Group AG said they would pay $55 million in cash for the assets—up from $45 million—on top of $645 million in debt forgiveness.